Releases Mortgage Rates Update - Mixed Economic Reports Affect Mortgages

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Home buyers and sellers can get the latest mortgage interest rate information in the new weekly mortgage report. The report provides analysis on today's mortgages, economic activity, what is effecting mortgage rates and forecasts for movements in the market.

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The mixed results of last week's economic reports helped keep mortgage rates from climbing as predicted in the previous mortgage report. The 30-year fixed rate mortgage dropped by 2 basis points and the 15-year fixed rate mortgage rose by 2 basis points.

Current mortgage interest rates are:

         4.25% - average rate for a 30-year fixed rate mortgage
         3.42% - average rate for a 15-year fixed rate mortgage

Though the economic outlook wasn't overly bright last week, reports out this week are showing more positive signs for the U.S. economy. However, the Eurozone is another story. Jobs are the big focus this week, and they could swing mortgage rates up or down. Here's the most important reports for this week.

  •     Monday: February Factory Orders report
  •     Tuesday: Fed Meeting Minutes
  •     Friday: March Jobs Report

Although there weren't many economic reports this week, they will have an impact on mortgage rates in the days and weeks to come. The report likely to have the greatest effect is the March Jobs report. Analysts expected there to be strong gains in the number of jobs created but that the unemployment rate to remain unchanged due to more people entering the job market. Neither of those things occurred.

Even thought there were only 120,000 jobs added last month, about half of what analysts expected, the unemployment rate dropped to 8.2%. The drop came from people leaving the job market.

The week did start out strong with an encouraging February Factory Orders report that built on the momentum from recent months. Orders were up by 1.3% over January, but this isn't a big enough improvement to effect mortgage rates much. believes that due to the economy's slow signs of progress mortgage interest rates are likely to move sideways next week with little to no change. It's a good time for home buyers and home owners to take advantage of the low rates before the summer buying season which may influence an upward movement.

To find more information on mortgage rates, new home listings and real estate agents, please visit:

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